Quiz 1 answer key

Quiz 1 answer key - ACC410 Professor Zhang Quiz 1 Student...

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ACC410 Professor Zhang Quiz 1 Student Name: ________________ Session (Circle one): MW 8:00-9:50am, 10:00-11:50am, 12:00-1:50pm Exam Rule: It is closed book exam – you may NOT use notes, books, computers, etc. You may, however, use a simple calculator. If a question is unclear, make an appropriate assumption that does not contradict any information given in the question. Section 1: Multiple Choice : Choose the single best answer (4 points) __ c ____ 1. Retained earnings are: a. cumulative net income since the inception of the firm b. cumulative dividends since the inception of the firm c. cumulative net income minus cumulative dividends since the inception of the firm d. what investors pay to purchase the shares e. cumulative revenues minus cumulative expenses since the inception of the firm __b___ 2. Short-term investments (also named marketable securities) are valued at: a. the historical cost. b.
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This note was uploaded on 04/11/2009 for the course ACCT 410x taught by Professor Bonner during the Fall '06 term at USC.

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Quiz 1 answer key - ACC410 Professor Zhang Quiz 1 Student...

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